Q4 2018 posts increased profits for Reliance JIO

Greg Lawrence
April 29, 2018

The company, however, reported a record net profit of Rs 36,075 crore for the 2017-18 fiscal, up 20.6 per cent.

The RIL stock was trading at Rs998 at 9.20 am, up 2.32 % from the previous day. In the comparable year-ago period, its net profit had stood at ₹8,046 crore.

"The year 2017-18 was a landmark year for Reliance where we established several records on both operating and financial parameters".

Reliance Jio, the company's telecom operator had reported the profit of Rs. 504 in the Q3 2017.

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The firms telecom arm, Jio, reported a net profit of Rs 510 crore (on a quarterly basis) in the fourth quarter on a revenue of Rs 7,128 crore. Organised retail revenue rose 134% to Rs 24,183 crore while operating profit jumped 291% to Rs 951 crore, reflecting much higher operating margins from its operations across 3,837 stores in 750 cities. RIL's gross refining margins (GRM) came in at $11 per barrel against $11.6 per barrel in the third quarter.

On a segmental basis, the EBIT for petrochemical business was Rs 6,435 crore against Rs 5,753 crore posted during the previous quarter. Reliance's oil and gas business saw widening of loss to Rs 600 crore from Rs 486 crore loss in Q4 of last fiscal as the output continued to fall. However, the surprise package was retail which clocked over 200 per cent rise in pre-tax profit. A sharp rise in benchmark crude oil prices and the rupee depreciating against the U.S. dollar doesn't bode well for oil marketing companies; oil refining, marketing and petrochemicals account for the bulk of RIL's revenues. The portable hotspot was launched in 2016. During the year, Reliance Brands acquired 46.6 per cent stake in Genesis Luxury Fashion Pvt Ltd. Genesis Luxury is a leading player in the business of Luxury apparel and accessories retailing for some of the leading worldwide Luxury brands like Armani, Canali, Michael Kors etc. Genesis Luxury exclusively retails the products for these Brands in India thorough a chain of Exclusive Brand Outlets (EBOs).

Reliance Industries' shares closed up 2% at Rs 994.75 on the BSE before the company announced its earnings. Alongside the revenue aspect, Jio also revealed the numbers of the company such as subscriber base, data usage by the subscribers and more.

Jio now offers three JioFi devices - JioFi, JioFi M2 and JioFi M2S - and going by the promo image, it seems like the JioFi M2S WiFi Router is being offered as part of the exchange offer.

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